Every apartment or townhouse owner considering selling a condo in London, Ontario, wants to sell for as much as possible.
That’s understandable, and it’s not luck that makes that happen! It’s applying proven strategies, marketing, and experience to encourage condo buyers in London to reach for their chequebooks!
Price or Time When Selling a Condo in London, Ontario?
What is the most critical: price or time? Believe it or not, this question underlies and controls:
Every seller’s decision to sell. The need to sell within a set time frame or to hold out for the best possible price
Every buyer’s decision to buy. The need to buy within a set time frame or to purchase for the lowest possible price
You Cannot Bank Time.
The #1 Principle Before Selling Your Condo In London, Ontario.
It’s not what you think your condo is worth;
it’s what a reasonable buyer will think it is worth and is willing to pay.
Wait a minute here: if I left it up to a buyer, they would pay me as little as possible for my condo.
True, they would. In the real world, every buyer knows that you, the seller, have no obligation to sell your condo at any price. To purchase your condo, the buyer must make you an offer you can’t or won’t refuse. One that will motivate you to pack, hire a local mover, wave goodbye, and sayonara.
Focus on the Major Key Issues & Be Realistic
Some of the most common mistakes sellers (and some Realtors) make when choosing a price:
Putting the property on the market at an unrealistic price compared to similar properties.
Not cognisant of the current real estate market.
Thinking that buyers aren’t comparing, on a dollar-for-dollar basis, with every other apartment or townhouse condo on the market
Some sellers believe their condo has an insurance replacement, appraised, or tax-assessed value. However, unless your insurance agent, banker, or tax assessor will write you a cheque – guess what? None of that matters. A condo without a buyer has no value in the marketplace.
Sure, it might have value to you. It might have value to your banker, insurance agent, Uncle Bob, hairdresser or barber, work friends, drinking buddies, bridge club, or appraiser.
None of these are buyers!
Pricing your condo to sell in London Ontario should not be taken lightly!